Opportunities and challenges of construction machi

Opportunities and challenges of construction machinery consumer credit under the new normal

manufacturing industry is the backbone of national development and an important strategic industry related to the national economy and the people's livelihood. As a leading sector of manufacturing industry, construction machinery, affected by the national investment of 4trillion yuan, has experienced adjustment for up to five years after achieving high-speed development. Until the second half of 2016, it benefited from the promotion of the national "the Belt and Road" construction, the recovery of downstream infrastructure investment and other factors, The construction machinery industry has entered the stage of stable recovery. The ups and downs of the market have brought great pressure and challenges to the integrated development of cash flow management and industrial chain of construction machinery enterprises in the process of transformation and upgrading. At the same time, it also contains unprecedented development opportunities

as a typical midstream industry, construction machinery is significantly different from traditional consumer goods manufacturing industries such as automobiles and household appliances in the operation and management of consumer finance because its products have the characteristics of complex manufacturing processes, large single unit value and strong professionalism

under the new economic normal, the finance company has gradually walked out of a development path with its own characteristics in the field of consumer credit in the construction machinery manufacturing industry by giving full play to the advantages of its internal financial platform. The practice of industrial development derived from industry demand shows that the symbol of the primary stage of industrialization is industrial clusters, and the industrial chain is the key stage of industrialization. The main form of modern industrial competition tends to industrial chain competition. Especially in the construction machinery industry, due to its strong product professionalism and narrow industrial chain, the bonding demand and development between the upstream and downstream of the industrial chain are more relevant. In the 2017 top 50 global construction machinery manufacturers ranking led by the UK KHL group, 9 Chinese enterprises are on the list. In the process of China's construction machinery industry sprinting to the top of the world pyramid of the industry, in addition to the competition of hard power such as technology and products, the continuous enhancement of the comprehensive competitiveness of the industrial chain brought about by the deepening of the industry finance integration strategy is also crucial, The successful practice of Caterpillar's financial globalization strategy is a good example. It can be seen that the development of consumer credit in China's construction machinery industry has profound theoretical connotation and practical foundation

in the past 10 years, the construction machinery industry has experienced peaks and valleys of development. The popularity of the market has led to irrational competition and blind expansion, which directly led to high receivables, high inventory, high leverage and serious overcapacity of Chinese construction machinery enterprises

customer rating is easily solved

the service objects of consumer credit business in the construction machinery industry are mainly downstream end customers, including small and medium-sized enterprise customers and individual customers. As we all know, the insufficient credit rating, difficult financing and expensive financing of small and medium-sized enterprises are chronic problems. Construction machinery is a highly cyclical industry greatly affected by the macro-economy, and its cyclical risks exacerbate the financing difficulties of construction machinery end customers. Facing the strong demand of the construction machinery consumer credit market, many commercial banks can only hope to "beg" and sigh

as a link between the real economy and the financial industry, financial companies have unique conditions and advantages in helping the development of the real economy. In view of the core problem of consumer credit rating, financial companies have carried out in-depth exploration and practice in combination with their own resources

for example, in the construction of consumer credit credit rating system, XCMG Group Finance Co., Ltd. gives play to the advantage of information symmetry, changes the perspective and positioning of evaluation through innovative thinking, and transforms the direct credit evaluation of upstream and downstream small and medium-sized enterprises into the credit evaluation of suppliers, member units, dealers and end customers based on the perspective of the whole construction machinery industry chain, Taking full account of the cooperation advantages of upstream and downstream enterprises for core enterprises (group member units), and reasonably weakening the lack of credit of small and medium-sized enterprises, combined with the analysis of big data and data model of information system, a reverse credit evaluation system of industrial chain based on big data is launched. It breaks the limitations of traditional commercial banks' financial service model in the industrial chain, and effectively solves the financing difficulties of small and medium-sized enterprises in the upstream and downstream of the industrial chain

financial companies promote the combination of industry and finance. As a financial platform within the group, the value of financial companies is more reflected in making up for the lack of support from commercial banks and meeting the group needs of commercial banks that "can't" and "don't want to". For example, in the fields of large tonnage construction machinery product sales, green consumer credit, and helping the development of emerging industries, the consumer credit business of financial companies will be of great use

large financing amount and long collection cycle are the remarkable characteristics of the construction machinery consumer credit business. Among them, the mortgage business of large tonnage truck cranes, crawler cranes, rotary drills and other products is particularly prominent, and the high value and long cycle contain high risks, because the construction machinery industry is in a period of deep adjustment, The probability that this risk is overestimated by commercial banks is simply introduced in this paper. 1. The testing function of spring fatigue testing machine is increased. Commercial banks have shown a more cautious and conservative attitude towards the mortgage business of construction machinery

if you can't do something, look after yourself. The finance company has carried out consumer credit business, which has brought a warm current to the construction machinery enterprises in the cold winter. In the process of transformation and upgrading of the construction machinery industry, the upgrading of traditional industries urgently needs financial support. As an internal platform, financial companies can better grasp the group's industrial information and the group's strategic decision-making guidance, and can also strengthen financial tilt decisively and rationally, and promote financial services such as green consumer credit

in the current situation of prominent internal and external contradictions and arduous tasks in the construction machinery industry, finance companies should have a higher sense of mission in carrying out consumer credit business, not limited to promoting sales and collection, but should be based on the overall development of the real economy and actively respond to the profound changes in the economic, financial and industrial situation, In depth focus on the deep-seated contradictions and tasks of development, such as "transformation and upgrading, deleveraging, reducing accounts receivable and industry recovery, expansion of production and operation scale", "turbulence in the international financial market and the urgent need for rapid promotion of internationalization strategy", "emerging industries urgently need large-scale breakthroughs and financing constraints, financing shortages", through consumer credit and other business innovation, smooth contradictions and salient points, and reasonably adjust the relationship between "development increment" and "risk stock", Promote the implementation of the group's industrial flexible development strategy

risk prevention and control is the life of the development of financial companies. In 2013, the average price of wet diaphragm was 6.2 yuan/square meter line. Financial companies carry out consumer credit business, which is back-to-back and group oriented. The safety of its business is highly positively related to the development of construction machinery industry and the group's industrial operation, in addition to the role of adding graphene alone, The systematic risk of the construction machinery industry will be the tipping point of the short-term, medium and long-term risks of the financial company. The major risks of the construction machinery industry and the group will be quickly transmitted to the financial company and become the main cause of the risk formation of the financial company. The development of the construction machinery industry chain affects the whole body. Therefore, the comprehensive risk management object of the financial company should not be limited to the company itself, but should be committed to the construction of a healthy financial ecosystem of the construction machinery industry chain. The comprehensive risk management system should cover the group member units and upstream and downstream enterprises. Within this framework, we should strengthen the transmission of the concept of comprehensive risk management, Strengthening the cooperation of various entities in the industrial chain for risk prevention and control does not need to lay a concrete foundation; Pay close attention to pre-warning and hold the bottom line of risk prevention; Establish multi-channel pre loan credit risk review means; Establish a risk mitigation mechanism combining PICC and PICC to prevent and control business risks; We will earnestly implement the registration procedures for mortgage and pledge guarantees to ensure that customers' assets are truly mortgaged and mitigate operational risks

with the recovery of the construction machinery industry, consumer credit will play a greater role in promoting the sales of construction machinery products, helping construction machinery enterprises to destock, reduce accounts receivable, and deepen supply side structural reform in the future